Word: shorely
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...head of the former line is beleaguered giant Citigroup, which is currently negotiating with the Treasury Department to swap common stock in the company for some of the $45 billion in preferred stock that the government has purchased so far to shore up the bank's finances. The advantages for Citi are that it wouldn't have to pay dividends on the common stock, and certain capital ratios would improve. In return, the government would get more of an upside if Citi were to return to health, plus effective control of the company. Whether the government's stake would rise...
...access will translate into financial help. Geithner has said he will spend a certain portion of the remaining $350 billion in the Treasury program formerly known as TARP investing more money in the nation's banks. But he hasn't said whether he intends to use the money to shore up the larger troubled banks or as grants to some smaller banks that don't necessarily need the funds but could use the additional money to make more loans. The government is reportedly in talks with Citigroup to take ownership of as much as 40% of that bank. But that...
...week in the Caribbean on a brand new ship, the Celebrity Solstice, at almost half price. For $1,100 per person, Yeary, who says she's never experienced the swank side of cruising, also gets a veranda, complimentary champagne, daily hors d'oeuvres and preferential treatment on shore excursions. "I wasn't expecting this," she says. "But it seems they have to do it to keep ships afloat in this scary state of affairs...
...Despite the necessary hard work, Duboe is confident in his team’s ability to succeed in the upcoming season.“We’re going to gel on offense as the weeks go along and really find our roles, and our defense is going to shore up on everything,” said Duboe. “It’s definitely great to start out with a win—we’re just excited to keep the momentum going.”Harvard will look for another victory next Saturday as it travels...
...Obama Administration rolled out its much awaited foreclosure-prevention plan on Wednesday, saying it could help as many as 7 million to 9 million homeowners meet their mortgage payments. In contrast to last week's detail-light financial-rescue blueprint, the multipronged policy to shore up the housing market, announced by the President on a trip to foreclosure-riddled Phoenix, was packed with specifics. Key components include modifying the terms of delinquent loans, refinancing underwater mortgages and plowing more money into the federal housing agencies in order to keep mortgage rates...